Jayden, a calendar year taxpayer, paid $16,000 in medical expenses and sustained a $20,000 casualty loss in
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Jayden, a calendar year taxpayer, paid $16,000 in medical expenses and sustained a $20,000 casualty loss in 2019 (the loss occurred in a Federally declared disaster area). He expects $12,000 of the medical expenses and $14,000 of the casualty loss to be reimbursed by insurance companies in 2020. Before considering any limitations on these deductions, how much can Jayden include in determining his itemized deductions for 2019?
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Related Book For
South-Western Federal Taxation 2020 Comprehensive
ISBN: 9780357109144
43rd Edition
Authors: David M. Maloney, William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman
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